Why Intuit’s New Offerings and Ads are Good News for Accounting Firms

Read Time: 5:00 minutes

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There has been a lot of at-ease around Intuit with offerings and ads:

• Live Experts that are potentially being recruited in your firm's inbox

• Beat what you paid your tax pro last season

• Refer clients and get paid

I get it—these Intuit initiatives can feel too close for comfort. After all, many of us in the accounting industry consider Intuit a partner more than a competitor. But here's the kicker: we can leverage this shift to our advantage. Intuit is positioned to train more staff who want to stick around in the profession than the top 100 accounting firms ever will. That opens up more hiring opportunities for accounting firms.

Finding Talent in Unexpected Places

This potential talent pool could be a game-changer for accounting firms. Most smaller accounting firms have to hire more experienced staff because they do not have the resources to train new graduates. This approach leaves small firms to hire experience typically coming from top-100 firms. While the top 100 hire and train intelligent people, the problem is often how they deploy and develop those people. By the time an accountant leaves one of those firms, they've either specialized to the point of losing touch with broader client needs or are exhausted from public accounting.

Now, Intuit will start training younger staff to meet increasing demands. These staff members will be trained on the Intuit products many small firms use. Plus, Intuit is known as one of the top workplaces. These attributes should translate into a talent pool ripe for recruiting since Intuit will have difficulty keeping top performers once they outgrow the platform's simpler, repetitive challenges. As these professionals gain experience, they'll naturally seek more complex, rewarding opportunities that align with their skills—opportunities that Intuit's ecosystem isn't built to provide. This is where accounting firms can step in, offering growth paths that Intuit can't match.

Focus on Your Ideal Client, Not the Bargain Hunter

With Intuit competing so directly on price, it's tempting to feel like your clients might jump ship. But here's the thing: clients who only care about the lowest cost probably aren't the ones you want to keep long-term anyway.

There will always be clients who see accounting and tax work as just another box to check. Those clients will not see the real value of what accounting firms bring to the table. Instead of scrambling to win every client on price alone, focus on finding clients who value proactive advisory work, insights, and genuine partnership.

That doesn't mean sending your low-budget clients off with a wave and a "good luck with TurboTax." Instead, having a strong referral network—whether it's Intuit or other trusted resources—makes letting go of price-sensitive, deadline-only clients easier.

I've been through letting go of clients at two different firms. Trying to move on from a client without a good referral often ends with them boomeranging back to your doorstep, and partners can have difficulty turning them away a second time.

Referrals to Intuit's services, where appropriate, can help free up your team to do higher-value work with clients who truly appreciate it. And by shifting your focus to more ideal clients, you're investing in work that energizes your team rather than drains them.

Move Up the Ladder: Who Is Your Ideal Client?

If Intuit and low-cost players will dominate the bottom end of the market, why not use this opportunity to aim higher? Moving up the client ladder is easier when you have a clear picture of your ideal client. This means going beyond vague descriptors like "small business owner" and digging into what makes a client genuinely compatible with your firm. I'm talking about those businesses that value advisory insights, are open to suggestions, and want a more collaborative relationship with their accountant.

A structured approach like the Entrepreneurial Operating System (EOS) can make a difference. Using tools like EOS, you're fine-tuning your internal operations and sharpening your understanding of the clients you want to target. You can start identifying clients who align with your firm's values and aspirations, improving the client experience for everyone involved.

Build Stronger Client Relationships with Regular Check-Ins

Let's talk about client relationships. With CAS, you must keep a pulse on how your clients feel about your services. Are they happy with the value they're getting? Could you add more value or take things to the next level? I do this with a quick feedback check at the end of each meeting.

A Top-100 firm I worked for had dedicated Voice of the Clients (VOCs). VOCs allowed for unbiased, honest conversations, as clients often felt more comfortable sharing insights with someone uninvolved in their day-to-day work. The intent was twofold: first, to identify areas where they could improve—communication, efficiency, or delivering on expectations—and second, to uncover new ways to serve the client better.

Scheduling regular check-ins with clients builds trust and gives valuable insights into what's working and what isn't. This level of personalization and care is something Intuit can't replicate. They're built for scale, not for intimacy.

Embrace the Intuit Ecosystem Strategically

Let's be honest: pulling out of the Intuit ecosystem isn't viable for most of us. They've built too many valuable tools. But that doesn't mean Intuit needs to define your firm's value. Instead, think about how you can leverage the platform while keeping your focus on services that are uniquely yours.

Ultimately, Intuit's push into the accounting space isn't something to fear. Intuit's shift might open up more opportunities than challenges for accounting firms willing to embrace advisory services, define their ideal client, and nurture strong client relationships. By leaning into what sets you apart, you're positioning your firm to thrive.

Thanks for reading, Luke Templin!

P.S. There are two ways I can help you grow your CAS offerings when you are ready:

1. Join my How to Start Offering Advisory Services Cohort. The next one starts in January.

2. Cannot wait until January? Check out the pre-recorded version here.